One of Chesapeake System Solutions’ key missions is to help businesses increase financial and treasury management productivity through innovative software solutions. From automating the reconciliation of high volumes of transactions with T-Recs® Enterprise, to continuously monitoring the rules and regulations of 54 separate U.S. jurisdictions for escheatment compliance with its Unclaimed Property Compliance System (UPCS®), Chesapeake helps clients save countless staff hours, increase efficiency and focus resources more effectively. In recognition of Chesapeake’s continued efforts to optimize financial and treasury management productivity, technology magazine CIOReview named Chesapeake System Solutions one of 2015’s 20 Most Promising Productivity Tools Solution Providers.
A panel comprised of CEOs, CIOs and analysts, including CIOReview’s editorial board, analyzed hundreds of solution providers and examined each company’s ability to add value to productivity. According to CIOReview, the final 20 that made the list are, “companies that are at the forefront of tackling challenges in the [productivity] arena.”
Chesapeake’s financial software solutions use automation to minimize the amount of manual effort needed to initiate, execute and report on financial and treasury processes. With little to no human intervention, tasks are completed at maximum efficiency and accuracy. As a result, staff can dedicate their efforts to higher-level operations.
For example, reconciling accounts can be an overwhelming task for businesses. When relying solely on spreadsheets and manual operations, staff members can end up spending entire workdays just importing data and matching transactions. But, with Chesapeake’s account reconciliation tool T-Recs Enterprise, reconciling accounts, including banks, balance sheets and credit cards, is made easy with automated workflows that apply consistent rules to each reconciliation type. T-Recs Enterprise can automatically import data from various platforms, such as Excel, Microsoft Dynamics or Cognos. The software then automatically matches imported data with the company’s own system data to identify exceptions. Software automation completes all the matching for the financial team. Staff members can then focus on reviewing and resolving exceptions, allowing for a more rapid time to close.
Chesapeake and its fellow honorees appear in the November 2015 issue of CIOReview. The issue also includes a one-page feature about Chesapeake and its software solutions. To see the full list of winners and to read Chesapeake’s feature on page 22, please click here.